Alabama Basketball Prepared to Participate in NIL-Driven Las Vegas Event in 2024

The Crimson Tide is one of seven programs already on-board for a revolutionary event.

Mar 28, 2024; Los Angeles, CA, USA; Alabama Crimson Tide forward Grant Nelson (2) reacts in the / Kirby Lee-USA TODAY Sports

The Alabama Crimson Tide basketball team made history this past season by qualifying for the program's first Final Four. The program has been on a steady ascension under head coach Nate Oats, so much so that Alabama has been invited to participate in a one-of-a-kind event next basketball season.

According to Matt Norlander of CBS Sports Alabama is one of seven programs that have agreed to participate in an NIL-driven event in Las Vegas next season. The event, dubbed the "Players Era Festival" will include a $1 million payout to each of the eight participating programs with the winner of the event reportedly earning another $1 million.

The eighth school is not yet finalized but the Crimson Tide will face off against Houston, Notre Dame, Oregon, Rutgers, San Diego State and Texas A&M. The event organizers intend to expand the field to 16 teams in 2025 with the programs playing in 2024 returning to Las Vegas.

Pay for play is still against NCAA regulations, therefore players will be participating in marketing opportunities with companies affiliated with the event in order to make the event NCAA-compliant. The expectation is that the "Players Era Festival" will be held on Thanksgiving week with concerts and interactive fan experiences happening on the Las Vegas Strip.